Magic Newton launches NEWT Token with a total supply of 1 billion, 60% allocated to the community.

On June 23, the Magic Newton Foundation announced the launch of the NEWT Token, with a total fixed supply of 1 billion Tokens (1,000,000,000). At launch, the circulating supply is 215 million Tokens (accounting for 21.5% of the total). 10% of the total Tokens will be distributed to early users of the Newton protocol and participants in the rise plan. More details regarding the Airdrop distribution and eligibility will be announced soon.

Allocation:

The allocation of Newton Token is as follows: 60% of the supply is allocated to the community category, and 40% is allocated to the internal category.

“Community” allocation: refers to the tokens reserved to directly support the growth, technical development, and decentralization of the Newton protocol, achieved through measures such as ecosystem funding, network rewards, community rewards, and the operational support of the on-chain foundation treasury. The treasury supports the foundation’s operational capacity to serve the protocol and its community, covering key functions such as coordinating contributors, supporting governance, and public infrastructure, to promote the prosperity of the ecosystem.

“Internal” allocation: refers to the tokens allocated to core contributors, early supporters, and Magic Labs, in recognition of their foundational work in building the protocol and supporting its launch. These allocations represent key resources dedicated to the ongoing management and development of the ecosystem.

Token distribution details:

The tokens allocated to the on-chain ecosystem development fund, on-chain ecosystem growth fund, and on-chain foundation treasury will follow a 48-month linear unlocking schedule, with 20% of the corresponding allocation unlocking immediately upon launch to meet the immediate funding requirements for the early critical development, growth, and operational needs of the protocol.

The tokens allocated to core contributors, early supporters, and Magic Labs will follow a 36-month vesting period, with an initial lock-up period of 12 months.

Whether locked or unvested Tokens distributed internally or by the community, the sale or transfer of these Tokens through secondary OTC transactions is prohibited until they are fully vested and unlocked.